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The 45-unit building, at 1446 Ocean Dr., Miami Beach, was built in 1960, county property records show. It sits on the dry side of Ocean Drive and has views of Lummus Park.

The new owners of the small third-of-an-acre lot will likely want to tear the co-op down. The site is zoned for mixed-use development and could allow for a five-story luxury condo, hotel or commercial property, according to Cushman & Wakefield.